CURRENT SPECIAL: Bulk order pricing for July! Get the next lower premium price on all orders to be shipped at end of month.Also Liberty Dollar Special, priced as Bitcoin Specie for Month of July.See notice here

spe·cie ˈspēSHē,-sēnoun 1. money in the form of coins rather than notes.

More fun than you ever thought you could have with silver! You have heard people criticize Bitcoin for not having a central bank and that Bitcoin isn't backed by anything. Now thanks to you that complaint is no longer true. Bitcoin has a decentralized bank and each of us can back our favorite virtual currency with Cold Hard Cash. This makes all of us, the decentralized bank, more resilient, more powerful and smarter-in-the-aggregate than any central bank could hope to be.

Scan the QR on these, or check the link above, to see their current value in bitcoin and in your local currency anywhere globally.These are one of the best ways we have found to introduce Bitcoin to people unfamiliar with it yet.

This thread will cover questions and will be used to keep our important and loyal friends here at BitCoinTalk well informed on the development of this project and in gratitude of the many of you that have made suggestions and comments and offered support in ways large and small.

There are several different types of Bitcoin clients. Server-assisted clients like blockchain.info rely on centralized servers to do their network verification for them. Although the server can't steal the client's bitcoins directly, it can easily execute double-spending-style attacks against the client.

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Thank you for the kind words. As the project matures, we are very interested in the input from this, our community, so that we may refine and improve. This thread is not self-moderated and so we also look forward to criticisms and healthy debate. The best solutions are those that are based on the desires of the group they are designed to serve. In this case that is you who are reading this now. We have taken input from many here already (you know who you are!) and looking forward to more.

The goals of this project are many. Here are some of the top items on our bucket list of what we hope to accomplish with this offering:

Create a durable and attractive specie for Bitcoin.

Provide a floor backing in hard physical asset for Bitcoin as a global currency with a distributed decentralized bank, all the holders of specie.

We wanted this to be a pocket-friendly piece, for easy daily carry as pocket change.

Pieces ought to be easily carried and useful for trade at point of sale without worry about damaging the piece, or waiting for confirmations.

Offer low-priced intrinsically-valuable high production volume quality piece that would be numismaticly attractive and innovative.

Provide options for the collector community without pulling any Bitcoins out of circulation in the blockchain.

Provide a means to swiftly and assertively present an accurate current value as both precious metal and bitcoin can suffer price volatility

Support both completely anonymous and non-anonymous transactions through total fungibility (most previous physical bitcoins are individually unique and serialized) just like paper currencies.

Support a definitive unit of account.

Provide a bridge to non-bitcoin users so that the bitcoin economy may expand through the use of this innovative project.

Global attractiveness, there should be something for everyone within the design, to encourage the peaceful prosperity that common units of trade have done through out the ages.

Sold at volume, these should be available at a slight discount to displayed trade value so as to engender an organic distribution network of folks naturally compensated for providing that distribution service to their local community.

Provide a commensurate but better value for money than was traditionally offered by the strongest specie offered by nations of old (US silver coins were 90% silver and 80% weight yielding 72% value for seigniorage). Ours are starting at 75% and projected to increase.

Support the capability of conversion to any currency, crypto or fiat that a recipient of a trade may chose to honor, globally.

We do not seek to compete with any of the other physical crypto-currency available, but to provide a complementary offering. We owe a debt of gratitude to the previous offerings that have helped to foster the Bitcoin economy from early days. These are fundamentally different in an important way, they do not have any bitcoins embedded within them, they are fine gold and silver pieces denominated in Bitcoin.

The advantages of bitcoin and bullion are relatively opposite, but by unifying them, each gain strength from the other.Bullion pieces are most useful in person and locally. Shipping them is costly, requires security, and delay.Bitcoin is less useful at point of sale, requires time to confirm, but Bitcoin is the best there is for long distance transactions.Bitcoin's value is consensus based, not backed, and not intrinsic. Bullion is the opposite.The hope is that by providing this offering we create a way to unify these, and in so doing make each better than they could be alone.

The idea is that these specie can be used at a point of sale for trade value (barter money) in the same way that a crypro currency can, but with folks that have never used or wanted any bitcoin... It is a physical object, valuable to everyone, and as silver and gold are great conductors it will be warm out of your pocket but cold as it quickly offers up its heat.Drop it into someone's palm and it will glisten with a nice BTC on it. Flip it over and scan the QR code and show the current value of it in bitcoin (or dollar/euro/litecoin/yen...) and make your trade.

The recipient of it will be enticed to scan it to show it to their friends, and they will see the price of bitcoin change over time. They may wish that they had taken the bitcoin instead of the silver. They may also be happy that they took the silver instead of the local fiat. So they won't be entirely disappointed.

We hope you will let us know how we are doing after you learn more about this project.

Definitely want one of these if the price isn't beyond reason. Prices similar to Casascius's prices would be good.

First, please understand that these are not like the Casascius coins in that these do not contain bitcoins. These are silver pieces denominated in Bitcoin.

They will be far less expensive, closer to one ounce silver spot price in BTC + a small premium based on quantity to compensate for those of you who will engage in distribution. (You should be able to make money by spending these.)Though if they are at all like the New Liberty Dollar sales, most sales will be in quantity >100.

If you just want one, chances are that you can get it for less from someone near you who bought a lot more than one.

These pieces are not really made primarily for the collectors, but to be USEFUL commercially with easily determinable barter value (just like Bitcoin has with its exchanges). They are designed to be trade-worthy, and pocket-friendly rather than sitting on a shelf. We don't want you to fret if they accidentally go through the washing machine, they should still work just fine.

From what I can tell, this is not really a "physical bitcoin". It is a silver "medallion" whose value in BTC is readily available. In other words, its value is the value of the silver it contains and nothing else (except for perhaps its collectibility).

I guess that is why you write that it doesn't compete with current physical bitcoins.

Yes. Your understanding looks accurate. That was one of our goals, not to compete but to be in a different and new market space. They are not useful as wallets, or as containers for bitcoin in the way that other pieces are. They are not unique, each is the same as all the others.

In the same way that a silver dollar does not contain a paper dollar within it, there is nothing contained within these. They are only what they are.I think of them as "Cold Hard Cash".

If we ought reserve the term "Physical Bitcoin" for pieces that can function as wallets with tamper-evident holograms, then these would not qualify.Perhaps calling it Bitcoin Specie would be more accurate nomenclature? It would be best to avoid confusion. The "Physical Bitcoin" descriptor was created by the BitcoinMagazine article. Folks will describe them in ways that make sense to them.

Additionally, with one of these to check current value, other pieces may be included in a trade that of similar composition but of different maker. So a "used" physical bitcoin could be traded as a fair value by checking the QR for example on one of these.

Notwithstanding this argument by Pirate that bitcoin is not money, there does exist some examples of specie, such as the Casascius physical bitcoins, many of which are also precious metal. https://www.casascius.com/

The step proposed in this project (which incidentally is almost completed and ready for sale which is why it is here in "goods" rather than in "projects") is for a pure specie offering. As these pieces become more widely available, they can form a type of decentralized backing for bitcoin (even though bitcoin needs no backing). Because we will accept bitcoin as payment in purchase for the specie (as well as anyone else might do the same, we are not patenting anything), this creates a type of ad-hoc backing of bitcoin with precious metal.

Further, in order to most widely spread this, we are setting prices as close as possible to actual costs, while leaving a little margin for those that volunteer to purchase at wholesale and aggregate sales for a locality. Bitcoin users, coin dealers, miners, and anyone with a local bitcoin community can play this role simply by purchasing in enough quantity to get the lowest premiums. This will allow the high volume purchaser to get "Bitcoin Cold Hard Cash" (We are adopting this nomenclature to distinguish from the "Physical Bitcoin" term used for Casascius, but please feel free and welcome to call them whatever you think appropriate.)

Just to clarify - these coins do not have any actual BTC value in them at all - they are silver rounds only, deriving their value from being made of silver. I like the QR code concept on the coin, but everyone should know if you buy these, you're not investing in BTC, you're investing in silver.

Just to clarify - these coins do not have any actual BTC value in them at all - they are silver rounds only, deriving their value from being made of silver. I like the QR code concept on the coin, but everyone should know if you buy these, you're not investing in BTC, you're investing in silver.

YES. THANK YOU. This deserves repeating. This is not bitcoin, it may be considered a type of bitcoin specie. For that, it may provide a new hard money backing for bitcoin (to the extent that bitcoin may be redeemed/exchanged for it). It is silver only (and soon gold as well). The value of bitcoin and these COLD HARD CASH pieces are however not bound to each other except for those that may voluntarily trade one for the other, and for this trade the QR displays the recommended trade value based on the current exchange pricing. There is also .025 BTC emblazoned on the obverse as a recommended trade value (and to commemorate the value of Silver/BTC in 2013).

Chainsaw:Days to weeks. I'll announce a first day of issue date which might be a week or ten days out from the announcement and take pre-orders up to that date. There will likely be some specials available for quantity purchases on or before first day of issue that will not be available later. The OP will be updated with order instructions when the time comes for that.Progress is continuing:Initial marketing pieces are being minted, final touches are being put on the QR landing page. Other website development is needed as well, but can proceed once these basics are solid and tested out. I am as eager as you are to progress!

Dwdoc:Some folks like the tarnish (more properly called "toning") on silver pieces, others not. They can be put in Airtites, or lacquered for preservation if you don't like tarnish, but they should do just fine with normal wear and use as pocket pieces too. OR you can wait for the gold pieces. Gold does not tarnish at all.

We have had some requests for purchasing some of the first strike pieces made for the marketing phase. Typically we have reserved these to be awarded to those that are assisting in the project development. Some few have already been committed for this, and there will be more needed for that.

We recognize that we have done precious few sales through the BitCoinTalk forum, and have not engaged in any auctions through this site. So if you are interested in getting one of these early released pieces, and would be willing to help us test this process out by doing so through an auction here, let us know and we will work to arrange an auction swiftly.

We have had some requests for purchasing some of the first strike pieces made for the marketing phase. Typically we have reserved these to be awarded to those that are assisting in the project development. Some few have already been committed for this, and there will be more needed for that.

We recognize that we have done precious few sales through the BitCoinTalk forum, and have not engaged in any auctions through this site. So if you are interested in getting one of these early released pieces, and would be willing to help us test this process out by doing so through an auction here, let us know and we will work to arrange an auction swiftly.

We have had some requests for purchasing some of the first strike pieces made for the marketing phase. Typically we have reserved these to be awarded to those that are assisting in the project development. Some few have already been committed for this, and there will be more needed for that.

We recognize that we have done precious few sales through the BitCoinTalk forum, and have not engaged in any auctions through this site. So if you are interested in getting one of these early released pieces, and would be willing to help us test this process out by doing so through an auction here, let us know and we will work to arrange an auction swiftly.

Great! It looks like there are at least a few folks that will take part. Thank you all for that.

At auction will be one of the first strike pieces, suitable for presentation. I'll organize the details as soon as we get some of the photography back (so you can at least see more clearly what you will be bidding on).

I appreciate all the fellow collectors here (as I am), but really this piece is made to be worthy of circulation and trade more than as a collectible. Durable enough to carry in your pocket and still be fully functional after years of wear and use. It represents a lot of earned expertise in private minting design, and a deep love of the great Bitcoin experiment. We hope they will be around and in use for many years to come and should hold up well.Only time will prove that out, but as long as you have at least one current piece that has a good readable QR, your stack should be easily traded at current display value.

They are made to be inexpensive enough that everyone should be able to have one in their pocket and not worry about it too much. We will not limit the minting of these pieces going forward, they will be produced to meet demand ad infinitum. In quantity, can get prices that will let you use them at a small profit and they are priced to move. We know that we are not going to get rich from these and those that distribute them will have a better margin than we the producers will have.

All that said, these are also ground-breaking pieces, the first of their kind and a little bit of history in the making. There are only 40 of these first strike "hero pieces" made for photographic purposes and they are highly coveted by all of us working to make this project come to fruition so hopefully the auction winner will have something they can treasure.

We are also contemplating some early release volume sales (with some important limitations). If you are interested in getting some of the brilliant uncirculated general release pieces ahead of our launch, that might be possible. All we would ask would be that you not offer them for resale until after the formal launch date Oct 1 2013 at The European Bitcoin conference.

I'll have some to be sure. Selling is a different question.There are only a few minted at the moment, and most of these are spoken for already.

As it turns out I spent most of today on the mint factory floor today as there is some equipment problems which will delay the volume production for a little while so I surely won't have enough to sell any meaningful amounts.

In case it wasn't clear earlier, if you want to pre-order to lock in the silver price at the current rates. That can be done at any time.

I don't know about this. It undermines totally the idea behind Bitcoin for being a free of bank currency. With physical coins everything comes more to the point it gets regulated like all the old currencies.

Wow, that museum looks really amazing. I would be delighted to see these represented there.

This piece does represent a piece of history. There has never before been specie of any kind that was not only money worldwide, but also translates its value through a QR code link into local currency as well as bitcoin. That the first piece of this kind bears the distinctive BTC on the obverse is to honor the great gift to humanity that bitcoin represents. We contemplated other communities into which to introduce this piece, but selected this one for lots of great reasons. So far you all have proved the wisdom of that through your generous welcoming and enthusiasm.

So really this is nothing more than a bitcoin themed souvenir that's valued upon the material it is made out of?

I'd take issue with that. It is not at all a souvenir. It is a currency, and not only is it bitcoin themed it has a role in the bitcoin ecosystem that is currently horribly vacant. PM's have been called the gateway "drug" to bitcoin, this takes that a step further by providing a ready means of introduction to the uninitiated. These are specifically engineered to be out in public, in pockets, in the marketplace, and not in drawers or on shelves.

For those of us that have used silver pieces in commercial transactions you will know the most common question is "what is it worth?". This piece has the unique distinction of providing not only a ready answer to that question, but one that is available at any time by someone who would receive it in a transaction as well. (It also answers the question "what is a bitcoin worth?".)I expect that these Cold Hard Cash pieces will also do a fair bit of business among those that do not use bitcoin, but the average person is less likely to know how to use a QR code than a bitcoin aficionado.

Try this... Go to any random cashier at your favorite store and ask them if they like gold, or silver. Folks that deal with cash and coins daily know that if they find one of those older coins they are more valuable (because of the silver). They have little else to keep them occupied after they know their job than to look at the coins that pass through their hands. The most frequent way to use silver in a transaction is when the cashier likes silver (or gold). They put the coin in their pocket and drop their own money in the till. The #1 place that Liberty Dollars were used in commerce was at Walmart. Cashiers would call you into their line if they know you were carrying silver. WE do a pretty brisk business selling New Liberty Dollars and didn't really need to do this, but this is a new thing altogether and very exciting for all of us. Better than the American Silver Eagles, these Bitcoin pieces can bring the hundreds of thousands of silver-stacking people into the world of Bitcoin, and more...

When the folks at the Bitcoin conference in San Jose asked me to do a Bitcoin piece, I took that mission seriously and this is the result. It is the product of countless discussions among some of the best, experienced and most creative numismatic artists, minters and designers on the planet. When the Bitcoin economy grows and expands and reaches new people worldwide, we all win.

These pieces are our missionaries into the already waiting world of would-be bitcoiners. Precious metals are highly sought after money everywhere on the planet, and these pieces are denominated in all currency through the magic of the QR... but they default to bitcoin.

Unless, of course, you'd spend that coin as a dollar. But why would you?

Yes, if you are buying American Silver Eagles instead of these, you are getting ripped off These are less expensive, more useful, and better: A world currency with true valueation available a phone click away everywhere.

Interesting, it appears there are two different Bitcoin meetup groups that have this event date/location. I hadn't seen this group before, I'm a member of this group: http://www.meetup.com/Los-Angeles-Bitcoin

How is it a currency? - I can't pay for fuel with it and I can't pay for items through bitpay with it ? ...All your doing is trying to manipulate bitcoin into something it's not. All I see is a fancy t-shirt made out of silver saying "I <3 Bitcoin"

I guess this can come down to some philosophical arguments, Bitcoin is different things to different people. I've talked to a few people I look up to in the community (who only know of this item from press coverage), and they seem to think a lot more of this item than you do.

And my sense is, if you brought these to a Libertarian enclave, you would find these "coins" would indeed be accepted as currency, perhaps more readily than if you asked to pay in actual BTC. And maybe the person who accepts this "coin" as payment today might accept Bitcoin tomorrow.

This piece does represent a piece of history. There has never before been specie of any kind that was not only money worldwide, but also translates its value through a QR code link into local currency as well as bitcoin.

Shire Silver has had a QR code linking to its suggested trade value for over a year now. Its also significantly easier to carry for everyday use as it fits in wallets the same as credit cards. It comes in several denominations ranging in MSRP from $40 all the way down to $1 so its much easier to make smaller purchases with than any traditional bullion. You really should check it out.

How is it a currency? - I can't pay for fuel with it and I can't pay for items through bitpay with it ?

Also how is there a vacancy in the bitcoin ecosystem? - That's the whole point of having a virtual P2P currency - nothing physical.

All your doing is trying to manipulate bitcoin into something it's not. All I see is a fancy t-shirt made out of silver saying "I <3 Bitcoin"

.... good luck to you.

You're kidding right? Silver coins have been currency far longer than any fiat money around the world today. Silver as money dates back as far as history goes. It's hard to compare bitcoin to silver though, because, while both are money, they are fundamentally different from another. One is purely physical and the other purely nonphysical.

So really this is nothing more than a bitcoin themed souvenir that's valued upon the material it is made out of?

I'd take issue with that. It is not at all a souvenir. It is a currency, and not only is it bitcoin themed it has a role in the bitcoin ecosystem that is currently horribly vacant.

How is it a currency? - I can't pay for fuel with it and I can't pay for items through bitpay with it ?

Silver and gold have been currency for about 3000 years. You might be surprised how readily it is accepted. It is a lot easier to trade at point of sale than bitcoin currently, and there are more folks using it than bitcoin today.

The recent Pirateat40 case brought this point to light as well.The claim that there is no specie for bitcoin was a point brought forward to claim that it is not money, and just a game.The more products and services that are exchangeable for bitcoin the better for bitcoin. Each new product expands the bitcoin economy.

- That's the whole point of having a virtual P2P currency - nothing physical.

If that is the whole point of it to you, please feel welcome to boycott it, protest it, or do whatever you feel is right. For myself and many others, there are many many points to having a virtual P2P currency, and the absence of material goods denominated in bitcoin is a problem rather than a solution. What better than the oldest and most pervasive monetary commodities with a flexible exchange rate incorporated into the piece to bring the tangible value of bitcoin to a greater population?

All your doing is trying to manipulate bitcoin into something it's not. All I see is a fancy t-shirt made out of silver saying "I <3 Bitcoin"

.... good luck to you.

I deeply appreciate your well wishes, even in your disagreement or misunderstanding of the purpose of this project. It is certainly a project born out of love for Bitcoin. It is not intended as a manipulation, or any attempt to detract from the essential purpose of Bitcoin, but simply to bring it to a wider audience, to extend its reach, to create a physical and tangible reminder of Bitcoin... but most of all, to have a pocket-friendly specie piece that can be carried casually without worry that you are ruining it. Something that you can whip out at any time you transact, to offer a voluntary choice of payment.

Sure you could do that with T-shirts, but they are bulky and less durable, and less fungible and one size doesn't fit all. I am eager to see ways it can be improved or the mission clarified, so I appreciate your comments and welcome more.

This piece does represent a piece of history. There has never before been specie of any kind that was not only money worldwide, but also translates its value through a QR code link into local currency as well as bitcoin.

Shire Silver has had a QR code linking to its suggested trade value for over a year now. Its also significantly easier to carry for everyday use as it fits in wallets the same as credit cards. It comes in several denominations ranging in MSRP from $40 all the way down to $1 so its much easier to make smaller purchases with than any traditional bullion. You really should check it out.

I <3 Shire Silver.You folks are heroes and I am happy for your continued success.

Bernard von NotHaus is not involved.The article headline is misleading, the lower court case for him is not yet settled, he has not been sentenced and has a motion before the court for acquittal.We would maintain that he is not guilty of any current law, and innocent of any wrongdoing, and that the prosecution has not proved their case, but the jury was bamboozled. Hopefully justice will prevail.

He has suffered much at the misguided efforts of the federal prosecution, we wish him well.

As described and pictured: #22 of 40 of the first strike pieces minted for the marketing and promotion.Likely this will be the only auction of these pieces as these are generally reserved to be awarded for those contributors and supporters of the project that have distinguished themselves in some way, so this is your opportunity to join our team by participating in our first BitCoinTalk auction

Included is one Bitcoin Cold Hard Cash .999 fine silver 1 ounce piece, airtite container, display case, certificate of authenticity. USPS Priority Shipping will be added to the winning bid, insured at the option of the winner. May the best win, good luck!

The auction will start at 0.01 BTC and will end when 24 hours elapse after the last bid, at whatever price that may be. Please bid by reply to this or another "Auction" subject post within this thread so as to be clear that the post is intended as a bid.

As described and pictured: #22 of 40 of the first strike pieces minted for the marketing and promotion.Likely this will be the only auction of these pieces as these are generally reserved to be awarded for those contributors and supporters of the project that have distinguished themselves in some way, so this is your opportunity to join our team by participating in our first BitCoinTalk auction

Included is one Bitcoin Cold Hard Cash .999 fine silver 1 ounce piece, airtite container, display case, certificate of authenticity. USPS Priority Shipping will be added to the winning bid, insured at the option of the winner. May the best win, good luck!

The auction will start at 0.01 BTC and will end when 24 hours elapse after the last bid, at whatever price that may be. Please bid by reply to this or another "Auction" subject post within this thread so as to be clear that the post is intended as a bid.

This auction is for one of the pre-release pieces. It is for one of the "first strike" pieces special minted for the marketing. It is something more for the collector than for people that want them to use them. The general release strikes will be made by the 1000s or 10000s. There are only 40 of these.

We are taking pre-orders if you want to lock in the silver price at current level, but we aren't really expecting many folks to be buying singles, at least not from us. Most of our orders tend to be 100+. We will take orders of any size, but if you are looking for just a single, you are paying full retail + shipping so you will not be getting the best deal around. Premium goes down with quantity fairly sharply so if you just want a few, you would do better to hook up with a larger quantity buyer and get them discounted + share the shipping costs, etc.

We almost certainly won't be auctioning more of these on BitCoinTalk. The market here is pretty thin (very few bidders). I doubt any of the folks that have been awarded these would let them go for this, but we did want to at least provide the opportunity for our supporters here to get a chance at one of these. You have all been very good to us and we are grateful for that! Thank you for bidding.

They were sold by us at just a few dollars over spot price less than a year ago, but the buyers that are offering them for sale are doing pretty well, though most of those that have them now aren't likely to sell them, those are the collectors.. If this first strike auction were open to the general public, rather than just this forum it is likely it would go higher than it has. So we think, we hope, this auction winner will also do well, that is our goal here. We don't expect it to go for a high price, but one that will be good for the winner in any case.

Our primary concern is never the collectors (though I myself am one), but rather those people that will ultimately circulate these pieces into their community, and to spread the message of bitcoin and alternative currencies. We aren't looking to make collectibles. Hard money, uninflatable money, is what it is going to take to have a persistently robust economy, and a persistent peace.

The people can never be free until their money is free. Without monetary freedom, there isn't any freedom at all.

A few barriers yet remain to that.1) My web programmer is slow (illness, no blame)2) My mint extruder is in repair (so making blanks for minting is blocked)

We are still taking pre-orders to lock in your silver price at the current level (it may go up or down, no guarantees). Let us know the quantity and you will get a quote good for the next 24 hours (though closed for the weekend so the quote will come Monday, good through Tuesday).

We almost certainly won't be auctioning more of these on BitCoinTalk. The market here is pretty thin (very few bidders). I doubt any of the folks that have been awarded these would let them go for this, but we did want to at least provide the opportunity for our supporters here to get a chance at one of these...

We almost certainly won't be auctioning more of these on BitCoinTalk. The market here is pretty thin (very few bidders). I doubt any of the folks that have been awarded these would let them go for this, but we did want to at least provide the opportunity for our supporters here to get a chance at one of these...

Thanks for the opportunity I guess. What exactly were you expecting?

Thank you for asking. My expectation was only to try out this forum as an auction mechanism. I am happy with what comes of that.

Though most of these First Strike pieces have gone out to internal team members, artists, programmers, machinists, designers and etc, there are some others here on bitcointalk that have also contributed and are receiving these First Strike pieces. So although we won't be auctioning more of these. Those who receive them might. Also it is pleasing and encouraging to learn of the presence of sufficient interest in collectible editions, so this won't be the last of those. The primary purpose of this, will remain as a circulation piece, but this encouraging enough to design and provide other offerings in the future.

For example, we would like to commemorate the 5th anniversary of the Satoshi White Paper this October, and had contemplated working on developing something special for those that want to join in that. Based on the interest, we will continue with that plan, and others.

As described and pictured: #22 of 40 of the first strike pieces minted for the marketing and promotion.Likely this will be the only auction of these pieces as these are generally reserved to be awarded for those contributors and supporters of the project that have distinguished themselves in some way, so this is your opportunity to join our team by participating in our first BitCoinTalk auction

Included is one Bitcoin Cold Hard Cash .999 fine silver 1 ounce piece, airtite container, display case, certificate of authenticity. USPS Priority Shipping will be added to the winning bid, insured at the option of the winner. May the best win, good luck!

The auction will start at 0.01 BTC and will end when 24 hours elapse after the last bid, at whatever price that may be. Please bid by reply to this or another "Auction" subject post within this thread so as to be clear that the post is intended as a bid.

In looking at the auction text, the bold text looks ambiguously written and could either mean the shipping is included (added in the auction) or that it is added to the price of the winning bid. Though the meaning was that it was to be added to the price, if your understanding was that we were adding it to the auction, we will consider that ambiguity our error and include it.

We will need a shipping address, a name you can use to sign for it, and payment of the winning bid (which can be done to the address listed in the profile of this account, or a new one if you like).

not fair..... as i live in the UK, the time zones kind've screwed me over...... i wasn't going to be awake at 5 in the morning (uk time) when their was two hours to go

Apologies for that. This was why we did a 24 hour bid cycle, so that there was at least one full day for everyone after each bid. If there is a better method that is more fair, let me know. This was our first so very much a learning exercise and looking for that sort of input.

As described and pictured: #22 of 40 of the first strike pieces minted for the marketing and promotion.Likely this will be the only auction of these pieces as these are generally reserved to be awarded for those contributors and supporters of the project that have distinguished themselves in some way, so this is your opportunity to join our team by participating in our first BitCoinTalk auction

Included is one Bitcoin Cold Hard Cash .999 fine silver 1 ounce piece, airtite container, display case, certificate of authenticity. USPS Priority Shipping will be added to the winning bid, insured at the option of the winner. May the best win, good luck!

The auction will start at 0.01 BTC and will end when 24 hours elapse after the last bid, at whatever price that may be. Please bid by reply to this or another "Auction" subject post within this thread so as to be clear that the post is intended as a bid.

In looking at the auction text, the bold text looks ambiguously written and could either mean the shipping is included (added in the auction) or that it is added to the price of the winning bid. Though the meaning was that it was to be added to the price, if your understanding was that we were adding it to the auction, we will consider that ambiguity our error and include it.

We will need a shipping address, a name you can use to sign for it, and payment of the winning bid (which can be done to the address listed in the profile of this account, or a new one if you like).

not fair..... as i live in the UK, the time zones kind've screwed me over...... i wasn't going to be awake at 5 in the morning (uk time) when their was two hours to go

Apologies for that. This was why we did a 24 hour bid cycle, so that there was at least one full day for everyone after each bid. If there is a better method that is more fair, let me know. This was our first so very much a learning exercise and looking for that sort of input.

The last thing I want is for disappointment to result from this experiment with the auctioning here.

What I can do for you is to pass on this offer information to others who are receiving these due to their contribution to the project to see if any would part with one for you, if you like?

Some good news, on the First Strike auction for those that missed out.

I have identified one (so far) recipient that is willing to part with theirs. He is still deciding how to arrange that, whether to put it on EBay or sell it directly.I may get the opportunity to discuss it with him this evening.

I am also hoping for more good news on our repair effort for the minting equipment today.

I am interested in 10 of the uncirculated coins when available. Do they come with a plastic case?

All sorts of cases are available, though we are more eager for these to circulate than sit in plastic. Air-tite cases are available at .005 BTC each, so add .05 for 10.Or the standard tube as depicted in the photo.We also have tube holders sized for air-tites (will get a picture up for those).

not fair..... as i live in the UK, the time zones kind've screwed me over...... i wasn't going to be awake at 5 in the morning (uk time) when their was two hours to go

Apologies for that. This was why we did a 24 hour bid cycle, so that there was at least one full day for everyone after each bid. If there is a better method that is more fair, let me know. This was our first so very much a learning exercise and looking for that sort of input.

The last thing I want is for disappointment to result from this experiment with the auctioning here.

What I can do for you is to pass on this offer information to others who are receiving these due to their contribution to the project to see if any would part with one for you, if you like?

There are a few that have accounts here (but most do not).

Sounds good, or if another strike coin goes up on auction let us know on this thread telling us whether its on ebay or here,and i will be involvedThanks

For just one, you would pay more for the shipping than for the piece itself.

I expect to be in Amsterdam for European Bitcoin Convention at the end of next month and I should have some with me.Further, I am hopeful for local distribution in Netherlands that can organize group buys, or buy and resell. I will be looking for such special people in each region.For the Liberty Dollar we had more than there were states. California alone had seven regions.

For just one, you would pay more for the shipping than for the piece itself.

I expect to be in Amsterdam for European Bitcoin Convention at the end of next month and I should have some with me.Further, I am hopeful for local distribution in Netherlands that can organize group buys, or buy and resell. I will be looking for such special people in each region.For the Liberty Dollar we had more than there were states. California alone had seven regions.

I will be at the convention, so that is just perfect! I will buy a coin then, so save one for me!

I was asked a great question privately, and I would like to answer it publicly as well in case there are others with a similar inquiry. For the price of these silver pieces, there are two price components, the current spot market price of the silver, and the premium (which covers repair and maintenance of the mint, the smelting of the ore, the design of the piece, the diemaking, and the rest). Adding the two of these gives the price. This price is displayed when the QR code is read.

With these COLD HARD CASH silver pieces, the premium component decreases with the quantity purchased. This allows a discount to those that participate in fostering the bitcoin economy by purchasing and distributing these bitcoin specie in much the same way that bitcoin miners are rewarded for processing transactions and helping bitcoins find their proper homes.

So you may see a price of .045 bitcoin (at quantity 10), this would be the premium.Add to that the current spot market price of the silver bullion and you get the price of the piece.When the 30 and 90 day moving average are both over USD$150, we will drop the premiums to a lower level to adjust for the sustained price of bitcoin.

This is a point we are raising with all my international buyers as well, as these would stand to gain the most from international shipping and customs being shared. Anyone who would be interested in being contacted by others local to them in order to aggregate purchasing for better prices should let us know that.

I would rather have people get these for less, whenever possible. It is an easy way to spread the Bitcoin economy at points of sale anywhere. This is our fundamental goal with this project and so we are keeping our prices as close to costs as possible (and keeping the costs as low as possible while still maintaining highest quality).

SO...If you would like to aggregate purchasing for your region, and you let me know what quantity tier you are at, I can list that on the OP for those close to you to buy through you.

It is looking like formal release will be around 3rd week of September.

The project is fundamentally not about creating collectible items, the Casascious pieces are much better for that sort of thing. We are working to make lasting, durable, trad-able, 100% fungible specie Bitcoin pieces that hold value in their own right and can help to bring more people into the Bitcoin economy with an easily exchanged pocket-friendly Bitcoin denominated silver and gold piece

That said, it has been our custom to award the FIRST STRIKE pieces to those that contribute to the effort, and there are more people involved than usual on this project. Of the 40 that are awarded, so far we have had three (3) of our FIRST STRIKE pieces come back to us from those to whom they were allocated who have decided that they would rather support the project instead of receiving the award, and another may yet come up for auction from someone that contributed, but has some pressing financial needs.

So... for those of you who either missed out on the first auction, or were outbid, there is another opportunity to get one of these collectible FIRST STRIKE pieces. The decision on how to allocate them came down to a few options and the one that was decided by these three was that they should go to the top three purchasers of the Initial order + pre-order. So the top three buyers will have the opportunity to have one of the first strikes, with the presentation display, and certificate of authenticity, to count as one of the pieces of their order.

So far the top three are 100, 100, and 50 piece orders so unless we get larger orders than these, these will be the folks to receive these three (or unless these folks may decide to increase their purchases ahead of the SEPTEMBER 15th cutoff for initial orders).

I have just learned that I have some competition! It is flattering to have copiers. Looks like he tried to hurry it out though.Generally I relish competition, and this is no exception. It is even more delightful that the competition is the notorious Rob Gray of the Mulligan Mint who is offering this piece:

I have had no personal dealings with Rob Gray. He has been one of the more prominent private minters, but I was not pleased with the treatment that he gave his mentor, Bernard von NotHaus (Architect of the Liberty Dollar) when Bernard was facing spurious charges from the US Feds for essentially being too successful with his alternate currency to the US dollar. It was during this time that Mr Gray took the body of work of Bernard von NotHaus and claimed that he had originated it and called it the American Open Currency Standard, and then proceeded to claim that the Liberty Dollar model upon which the AOCS was based was not compliant with the standard. This betrayal was at a time when Bernard was fighting for his freedom with the Feds (he still is). AOCS may have done much good, but having been founded on what I saw as a fraudulent misrepresentation, I would not join with his efforts.

As it turns out this was not a bad decision on my part. Some of those who did quite a bit of business with him are currently in lawsuits attempting to get some millions of dollars worth of precious metals back from him according to these guys:http://mulliganmintexposed.com/

The private minting world is a pretty small community, and I have been fairly open about what we are doing and our intentions with this offering. It looks like the word is out so... Now I have this challenge, to put more of these pieces into circulation than Rob Gray's pieces. He may have ill gotten wealth to fund marketing programs, but no matter what may come, I have an 8 old promise to fulfill, made in NL, and so I will

Thank you for those of you who have placed orders already, we think you will be very happy with what you will get. I welcome any questions on this or any other matter.

I just received my first mint commemoration coin, awarded only for an innocent quip about 'thinking ouside the box', that now appears on the reverse side of the coins thanks to your's truly! At the time Joseph said it had earnt me a 'first press' piece, and true to his word, I received it today, and it really is a work of art, a really beautiful piece. I strongly recommend anyone to purchase at least one, if only for the design itself, but hopefully they will make their way into much larger circulation.I can't top the photo posted above, but I can give a big thankyou to you, Joseph, and wish you all the best for the future

"Before you embark on a journey of revenge, dig two graves" - Confucius (China 551BC-479 BC)

Thanks for that. Most all of the design elements were coalesced from the words and ideas of this community, so we owe a debt of gratitude to you all for your contributions in words, ideas and feedback.

We also owe kudos to the folks attending the Bitcoin Foundation's convention in San Jose where we were "asked" to make these. (Actually it was more like "why the fuk haven't you done a Bitcoin piece yet, you slacker?") We took it to heart and let the ideas percolate and mix, but there are a lot of you who contributed in ways that are less easy to identify than Pheonix1 who just happened to say just the right thing at just the right time as we were looking to finalize the motto. It cinched it.

"Think outside the box"... Outside the QR code, outside the computer, outside all the boxes, that is the domain of Bitcoin and also especially the Bitcoin specie pieces we are producing, which are not made to be boxed, but pocketed and exchanged.

And in Latin, rather than English, as both Bitcoin and precious metals are international and timeless. A lot of heart went in to these, and not just ours but many of yours as well. There is a lot more meaning in the design than can be easily explained. It is sort of a treasure map of our collective experience with it.

I have just learned that I have some competition! It is flattering to have copiers. Looks like he tried to hurry it out though.Generally I relish competition, and this is no exception. It is even more delightful that the competition is the notorious Rob Gray of the Mulligan Mint who is offering this piece:

is someone planning a group buy for this so we can get coins for a bit cheaper?

i would be interested as long as the scan code works correctly. I hate faulty technology

We've been testing scanning the QR with different phones, so far there have been two phones that were problematic, an old blackberry and an iphone in a white case which seemed to interfere in the reflection of the mirror-like back. So black phones (or phone cases) will likely work better. We will have more test results ahead of the 2014 issue so we will build on this, and a 1 ozt gold piece coming as well.

We very much wanted to get this in hands in 2013. We will have a collectible hand stamp issue coming for the Oct 31, 5th anniversary of the Satoshi Whitepaper from '08 for those that are interested in collector pieces.

We also expect to continually invest in the destination site for the QR. Consequently this is not likely to be a profitable enterprise for years to come, but we are in it for the long haul with more produced to stay ahead of demand each year going forward.

I have just learned that I have some competition! It is flattering to have copiers. Looks like he tried to hurry it out though.Generally I relish competition, and this is no exception. It is even more delightful that the competition is the notorious Rob Gray of the Mulligan Mint who is offering this piece:

From a visual or reputation perspective, I don't see much competition.

We thought so as well, but then again we are biased. Their design seems strikingly USA focused, and in English only. The piece is priced in dollars rather than in Bitcoin, and the QR points to their general store rather than to a conversion tool.

Bitcoin is the global currency, it sees no borders so we used a borderless globe as the background and a gracefully curved BTC and a nominal value dated for 2013 to show future generations what a bitcoin was worth in 2013 as well as what it is worth at that future time. The conjunction of these should show a stark mind-opening awareness for what inflation-proof currency can mean to those that use it.

It occurs to me that there may be enough collectors to support collectible editions, and I have a lot of ideas about that. We are already offering a few things for that. The First Strike pieces, but those are earned rather than sold.

We are also likely to offer some special items to our high-volume purchasers for the pre-order.

And a third offering, a hand-stamped edition for the 5th anniversary of the Satoshi White Paper.

These pieces will have a hand stamped mark, in celebration of our wise founder's publication on Oct 31 2008. The end of next month will be the fifth anniversary and in celebration of that, we will mark a few with a stamp to commemorate this.

The first opportunity to get one of these will be at the formal release announcement at the Bitcoin Europe conference in Amsterdam in 2 weeks. Details will be made available as decisions are made

Production minting started today. First ordered pieces should start shipping after the weekend!Thank you for your patience. Giving birth to these has been a wonderful adventure so far and I am grateful for your sharing it with me.

I am also still busy at this time shoring up the web part of these. A lot has changed since I was cobbling HTML using vi on Sun Micros in the dungeons of Disney in the early 90's (apologies to you EMACS lovers). I am more than a little rusty, and the CSS bits are giving me headaches because of juggling a lot of things and trying to remember to sneak in some rest when the brain stops working the way it is supposed to. I am starting to think that all-nighters are for the younger folks.

...but, it is all starting to come together, and some dear friends are offering to help and that is making a huge difference. (Thanks Mike, doing this is WAY better than shoveling code into the Citibank machine ever was, isn't it?)

Still working on the landing page for the QR, this is a mockup of what we are working toward now. Many of the more common currencies are integrated now and more will be added soon. The first pre-ordered pieces will ship out in the morning (shipping out as they come off the press).Thank you all for your support and encouragement.

Bitcoin will soon be the only global currency with asset backing specie pieces. Bitcoin will then be redeemable for these bullion pieces on demand. As this project rolls forward, bitcoin price should not again fall below the value of 4 troy ounces of silver (as we and our supporters will continue to be redeeming it, at that value, if it declines to that).

Also, the QR on the specie pieces will also display to the bearer the current value of Bitcoin Specie in all the fiat currencies. Since these pieces may be bought at LESS than a quarter bitcoin (but a bitcoin should always be able to buy at least 4), this project should put a price floor on bitcoin going forward.

Future years we expect we may have to revalue at ever higher rates of bitcoin to silver ratio, so while there will always be a redemption value for bitcoin in silver (and soon also gold), the amount of silver and gold you can get for your bitcoin may improve over time.

The usefulness of the bitcoin specie pieces in commerce, especially at point of sale, can also resolve the wait-time for confirmations for in-person high-transaction environments.

the ability to find folks local to you who buy in quantity and can make these available to you locally worldwide.

What I'ld like to see is these traded at the local Bitcoin meetups and Satoshi Square-type trading events.

One problem, though, is that the party willing to sell these may not be the same person willing to speculate on the exchange rate for silver bullion -- so that person might not be willing to invest in any significant inventory of the pieces.

After seeing the Ripple DYM issue (in which the issuer holds a silver dime for each 1.0 DYM voucher unit out there) I'm thinking there is a solution to this. Essentially this lets this trader acquire a larger inventory of the pieces by selling the vouchers to buyers on Ripple. But then as each piece is sold that seller buys back one of the voucher units issued through Ripple.

I guess it is no different from a consignment store concept.

The advantage to doing it through Ripple is that the person who bought the voucher unit issue on Ripple is that that voucher can be sold, so the funds aren't locked in until the trader (issuer) holding the physical piece backing the voucher sells it.

Open Transactions could be used for this as well, but this has already been done through Ripple (in DYM).

I am working on getting Ripple involved as well.I submitted my application to join them at Money2020 in Vegas to see if we can play well together. Waiting to hear back yet. Put in a good word for me will you?

But... as of now, Bitcoin is the only global currency actually backed with a circulating specie. The only others I've seen have been collector pieces, and bitcoin deliver pieces, both of which are awesome... but they aren't made to circulate so I saw a need to get the "Liberty Dollar Philosophy" involved.

Further, I expect to reach out to all the local meet-up groups to see if they want to organize any group deals. These are designed to be as affordable as possible, and get more so with quantity.

Also..

I agree that some may be reluctant to "speculate" on the value of silver and gold. They have been money for a few millennium but everything changes. That is why we found it necessary to include the real-time pricing mechanism into the specie pieces with the QR code.

The idea is that you shouldn't have to hold vast quantities of silver and gold (unless you want to). It is meant as pocket change for bitcoin, and one that is more easily acceptable globally than any national fiat. It also provides a valuable means of introducing folks to what it means to have a backed currency for a change.

When working out a trade using bitcoin with someone new to it, I often get asked "What is it backed by?" Now I have a ready answer for that.

When working out a trade using bullion pieces, I often get asked "What is it worth?". This provides the answer for both of these.

Thirdly, all the pre-paid pre-orders are now shipped out. So those of you adventurous folks who risked some precious bitcoins helping to get this new phase of sound money off the ground, look in your PM soon for details (as well as an exclusive offer!).

Are there any pics of the upcoming gold coin? Or did I miss-read something?

There aren't any pictures yet of the gold pieces, as none have yet been minted. With the delays we were suffering with the silver pieces, we have focused on turning those around first as we had gone ahead and accepted BTC for them and don't like to keep folks waiting too long once they have paid.

If demand for the gold stays strong, it will be the next on our list, otherwise it would be the BitDime (2/5 ozt Ag). I'll take your questions as a vote for the gold next.

We had some fun working out the possibilities and experimenting with the specular vs diffuse reflective properties of silver at different wavelengths to create enough contrasting difference for a QR code reading with enough reliability to be workable (but you still have to consider your lighting and smartphone focal points a bit when the pieces are new and shiny)Gold has some slightly different characteristics, but we are pretty sure we can make it work without having to resort to enameling or inlay or such like that. And the experimenting will be fun.

Now that we have started shipping (pre-paid pre-orders only so far) and are about to formally launch into production mode for phase 1 of this project. It is time for some feedback from you all on our QR link.

For those of you with smart phones, please provide comments on http://ColdHardCa.shThe page is going through some rapid changes so it may disappear for short periods of time as things are being updated.

Again, many thanks to Preev, and Mike, and Edgar, and Reichart who have all been lynch-pins on the wheels that are making this phase a success.

The goal is to have it facilitate transactions. Currency must flow or it has no purpose...Any comment is welcome, what do you love, what do you hate? What currencies do you want added?

These should be done ahead of formal launch at month end. Maybe by the end of the day.

A little later I am thinking of changing the color of the # of ozt field to RED when the number is close enough to the next higher tier that it would be less expensive to get more... but we are still doing a few baby steps right now. No one should be getting 99 pieces...

These should be done ahead of formal launch at month end. Maybe by the end of the day.

A little later I am thinking of changing the color of the # of ozt field to RED when the number is close enough to the next higher tier that it would be less expensive to get more... but we are still doing a few baby steps right now. No one should be getting 99 pieces...

Fixed Let me know if you see any problem. We think we have tested all the mobile browsers that are hitting it, but there is always something unexpected.You should see the premium change as the quantity changes.

hi, quick question- who acctually minting that. is there any assurance about silver in each coin?

We use a variety of external contracted minting and sources. We have the responsibility for the assurance of silver purity and the weight of each piece directlyThere are many simple tests for the purity if you would like to do a little science.http://www.ebay.com/bhp/silver-test-acidand some more complicated ones with specific gravity measurements.

We are also very happy to have added a new mint Great American Mint and Refinery, who have gathered some of the best minting and refining engineers in the business. And since they are so close, we are now able to accept "junk silver" as payment-in-kind which can be refined here to the .999+ purity required for our pieces. So those old silver .925 candle-holders can become sparkling new Bitcoin specie.

The people involved have also been responsible for making some other very popular silver pieces, including American Silver Eagle, Canadian Maple (which is .9999+ ) and others. We think that they do a pretty good job.

We have had this question often, but never any complaint about the quality of the silver, or the weight. It is consistently higher quality than .999 and if the weight is off, it is only because it is over, not under, but within the tolerance of .005 ozt so not too much over.

Your coins seem to be very interesting to bid on and that are just the normal ones.

Yes, I don't know why they are being bid that high, it is surprising. The title may be misleading (it uses "Physical" which for some people has come to mean that the piece is able to store bitcoin like a wallet) But the description is clear. We are hoping (and daring to expect) that these will become the new pocket currency as Bitcoin becomes more broadly accepted. We think there may be still a need for the perfect anonymity that coins provide, as well as the easy of use for in-person transaction compared to anything needing electronics and networks. We envision a world where these Bitcoin specie are jingling in pockets most everywhere and hope them to be quite common.

It is often said that the winners in auctioning are the ones that know the most about the item. The readers of this thread know more than anyone outside our team, and so are not likely bidding at these prices (though maybe could earn some more by selling).

There was another of our pre-order buyers who switched their order from the New Liberty Dollar to the Bitcoin Specie after they had sent payment. They told us that they put up 10 separate auctions with buyout and all were bought out within 10 hours which was very exciting for them.

Yes only better :-DCringly repeats the criticism of Bitcoin not being backed in this http://www.cringely.com/2013/09/30/doubts-bitcoin/ but we will prove that a decentralized bank can provide more robust backing for our currency.everyone of us holding at least one specie piece is backing Bitcoin.

To buy, you can contact me through this forum, or through email, or the website posted in my profile here. If we have already done business together, you probably also have my phone number.In the (hopefully not too distant future) this will become even easier.

This is an ongoing project, not a one-time endeavor.We expect to be minting continuously, and with continuous incremental improvements all around, ease of ordering, ease of use, etc.There should never be a shortage of the standard Bitcoin Specie pieces.

Yes, this is true. It was mentioned in this context because it does provide a contact form. We are as yet a bit reluctant to offer direct retail online yet as we are in negotiations with other online retailers to provide this as a retail offering direct to consumers. Primarily we focus on design, manufacturing, production and wholesaling because this focus allows us to create the very best, and also gives the retailers the opportunity to make the best profit at the retail market.

This strategy has worked very well for us in keeping quality and production value high. If it turns out that these discussions become protracted we expect that we will offer direct retail in competition to the existing retail marketers. We feel it is in all our best interests to not compete with our market channel even knowing that those that are buying from us directly are making a LOT more per piece than we do. (Wow, those eBay prices are unreal!)http://www.ebay.com/sch/i.html?_nkw=silver+bitcoin+msrp

However, we expect to continue to offer retail purchasing to this bitcointalk.org community in gratitude for the support and dedication to our common mission of extending the Bitcoin economy. Anyone buying from us and selling or trading profitably to others we consider an ally and a partner, and so are reluctant to push them out of the market by offering our pricing directly to the broader market. We are only a little surprised that the discussions are taking as long as they are, but it is what it is.

Fundamentally, a virtual currency alone is incomplete without specie to accompany it, and our mission is to create the best complementary specie pieces for worldwide use.

Anyone here is of course welcome to enter that market place of offering these in retail channels to the markets they know best how to serve.

Now is probably a good time to announce this:

http://www.bitgild.com/ is offering Bitcoin Specie direct online retail through their excellent site, and listed prominently on their home page. We welcome them and encourage our EU customers to get these directly through them. This is their first offering in Silver and their first non-government produced pieces, so CONGRATULATIONS TO BITGILD for taking this positive step forward in extending the Bitcoin economy!

You know what would be awesome, to have a little hole on the top side of the coin so you could like make a thread trough it and wear it and show people you have bitcoins

We have available such an offering, it isn't a hole through the coin though (that would not be as nice), it is a clear holder that turns it into a pendant.We can include these with any order for 0.02 btc each. It is just the holder, you would still need a suitable chain.

They are kind of a nice way to give it as a gift, holiday ornament, or keepsake.

Primarily we would like to see these used commercially, but we do love our collectors

We received our Gold electroplated silver quarter bitcoin test pieces back today. The QR is readable, so that is good news, and wow... I like the look of them in gold. If anyone is looking for something special for the holidays, a .999 fine silver quarter bitcoin specie electroplated in gold would make a nice surprise. After seeing these, I may make some ornament for special friends and family that celebrate the winter holidays. If anyone else has a similar notion, let me know and I will hook you up.

The 1 oz Gold piece will be a TEN BITCOIN nominal value, but of course the actual price will vary as the BTC/AG rate changes, hence the need for the QR.

The best reading I've done on a practical gold standard for a backed currency is a volume by Richard Salsman called "Gold and Liberty" published by A.I.E.R.http://www.amazon.com/Gold-liberty-Economic-education-bulletin/dp/B0006PFFZOIn this excellent treatise, Salsman describes the history of the many different gold standards (including some detail on the 3 gold standards that have been tried in the US) and how and why each one fell, and broadly hints at how a durable, flexible, free-market gold standard along with Free Banking are the way forward for a market driven currency whose value is not dependent on a central bank or government structure. Though it was authored in 1995, it calls out the need for a system such as we are working toward with this project.A decentralized currency, with decentralized backing, and a flexible gold standard based on the free market valuation of the underlying precious metals. Salsman also, I think rightly, offers his skepticism that this sort of system will be fostered by government institutions and if it is, will fall prey to the political expediencies of the day.

It is our delight to be adhering to this model closely along with the innovative additions provided by Bitcoin that make it possible to achieve together in our lifetimes. Bitcoin will be the best global online currency, backed and redeemable in the bimetallic standard of gold and silver, with a real-time exchange rate accessible directly from the specie itself.

Personally I think that their bitcoin coin is not the reason for the account closure and that CoinDesk not only has it wrong, but is reporting the wrong story.http://blogs.wsj.com/bankruptcy/2013/09/20/texas-coin-maker-for-fed-estranged-files-for-bankruptcy/Those folks talk the talk, but they don´t walk the walk.There is nothing mutually voluntary or ¨libertarian¨about taking things that don´t belong to you, and cloaking themselves in bitcoin as if that were the reason for the banking closure is not going to help that crew, and only hurts us. They do not give private minting a good name by doing this.

I did manage to acquire one of the ¨bitcoin coins¨before they were shut down, and was a bit disappointed with it, but nevertheless encouraged to redouble the effort to provide the best specie pieces we can produce in order to be worthy of the elegant monetary architecture into which they are integral.

In the last few weeks we have had an outpouring of support. It has been very heartwarming. As Bitcoin grows as an international currency, the need for off-chain transactions using real-value bitcoin-denominated specie pieces will become increasingly important, and we are honored to put forward this project to serve that purpose.

One of the challenges we have currently is one where YOU CAN HELP, and by helping, you can make money, do good, and have fun!

We have been receiving many small quantity orders from folks all over the world, and although this is very encouraging, it does not provide the best service to the wide world of bitcoiners. Since this physical currency has to be shipped, small quantity long distance orders are not the best bargain or best distribution model. These transactions are perfect for bitcoin but not for bitcoin specie, which is best for local.

We have started to reach out to regional distributors who can purchase in quantity and distribute locally. The great benefit to these distributors is that they get a much lower price per piece than any individual buyer can get. This allows them to profit by the difference of what it would cost to have a single bitcoin specie shipped and insured overseas (high), and the cost of a local transaction (low).

So if you know someone in a position to serve such a role, or you yourself are one of these rare and special people. Please do not hesitate to contact us. It will be good for your own bitcoin wallet, and good for Bitcoin in that it will help spread the Bitcoin economy in your local community.

Be a Bitcoin ambassador, use bitcoin, and bitcoin specie in transactions. Use Bitcoin Specie to educate and bolster your outreach efforts. Be the local distribution hub and give yourself a Bitcoin job.

When you do this, we will encourage people local to you to buy from you, instead of from us.

Personally I think that their bitcoin coin is not the reason for the account closure and that CoinDesk not only has it wrong, but is reporting the wrong story.http://blogs.wsj.com/bankruptcy/2013/09/20/texas-coin-maker-for-fed-estranged-files-for-bankruptcy/Those folks talk the talk, but they don´t walk the walk.There is nothing mutually voluntary or ¨libertarian¨about taking things that don´t belong to you, and cloaking themselves in bitcoin as if that were the reason for the banking closure is not going to help that crew, and only hurts us. They do not give private minting a good name by doing this.

You aren't the only one warning about Mulligan Mint. Looks like they've been reselling MJBmonetarymetals' designs and refusing to pay him royalties...

Personally I think that their bitcoin coin is not the reason for the account closure and that CoinDesk not only has it wrong, but is reporting the wrong story.http://blogs.wsj.com/bankruptcy/2013/09/20/texas-coin-maker-for-fed-estranged-files-for-bankruptcy/Those folks talk the talk, but they don´t walk the walk.There is nothing mutually voluntary or ¨libertarian¨about taking things that don´t belong to you, and cloaking themselves in bitcoin as if that were the reason for the banking closure is not going to help that crew, and only hurts us. They do not give private minting a good name by doing this.

You aren't the only one warning about Mulligan Mint. Looks like they've been reselling MJBmonetarymetals' designs and refusing to pay him royalties...

I've had some inquiries from folks wanting to get these, but they have only been made available to the few who pre-ordered and those who have met one of our team at conferences or other events. As far as I know this is the only one that has been offered for sale publicly.

If Bitcoin rises in value vis-a-vis silver sufficiently, these premiums may be reduced downward.

The 0.05 BTC premium is now an amount worth more than $8.

The bitcoin price of silver (rather than the dollar value) is the formula input on the calculation to reduce the premium based on the moving average of bitcoin.

For those who are familiar with the "move up" triggers for the Liberty Dollar (and mostly adopted by the now defunct AOCS) the formula may be somewhat familiar, however it is not based on Dollars, but on Silver/Bitcoin.

It is getting closer to potentially being triggered, and will track it in this post and in the OP. The 30 day moving average of the Silver Price in Bitcoin went under 0.175 on Oct 18th. If the 30 day moving average for silver stays under this for 14 days we discount the premium.(OP updated with this)

I've had some messages come in with requests for making these Bitcoin Specie better for holiday gifting. Christmas is a time for family and friends to gather. So many of us are the only one of our family to be involved in Bitcoin. Or maybe one of a few in our extended family to have discovered Bitcoin and taken the time to understand its merits. If your family is anything like mine, I am a bit of an outlier. Not really the same as the others.

As much as I would have liked my closest friends and family, those with whom I share these special days, to have been able to participate in the joys of profit, and financial protection through the rest of the year, these notions are always met with much more skepticism than I often receive from strangers. Some of my own family do not even have much use for computers, but they could still receive the benefits of Bitcoin and gain the understanding that it brings.

I don't just give gifts to family but also to friends and folks I work with or employ. I have a small farm that I share, (which is a great way to get exercise and fresh food) some immigrant workers that help me there have been a bit skeptical about the virtual currency talk, even though they send money to their relatives in Mexico through expensive money transfer and would benefit from this more than most people. They do not have much to send and do it out of dedication and love for their relatives, and so much of it is taken by the banks. It wasn't until I showed them the Silver Bitcoin Specie that it seemed real. Mexico has a long tradition of silver and it was immediately recognized as valuable. I know my friends' sons are pretty good with the computers so I asked him to show it to them. When I saw him next, he wanted to invest in Bitcoin.

These thoughts and experiences are a part of what drives me to be making the Bitcoin Specie pieces. The is part of what went in to designing the piece, and the website, and the QR code, which can teach the novice how to use some of the very basic tools of using Bitcoin and understanding Bitcoin that we take for granted. By making it fun, not too expensive, and easy, and tangible, and dare I say attractive, the hope is to provide a way for each of us to bring our family and friends along with us on this adventurous journey that is the world of Bitcoin.

And so after some thought and some research, we have come up with some ideas that I would like to share with you as we approach the holidays. There should be some that will see something tangible and have their families or friends helped by it.

I have contacted the maker of some of the containers and they have provided me with some samples of cases that can be used as either holiday ornaments or jewelry pendants. The results so far is that these Bitcoin Specie are not just great gifts on their own, for their educational capability, they can also be ornaments and jewelry. Most importantly, they can bring in new people who don't know much or anything about Bitcoin. I also had a few pieces electroplated in gold, I wasn't sure that they would make good gifts though so I wanted to get some sampling of reactions from people that don't really care about Bitcoin at all. When I ran in to a friend at a coffeeshop and she had her fashionista daughter with her, I saw an opportunity to try it out and as a test, I handed a necklace with one of these pendants to this young woman and she immediately lit up and started posing and taking pictures of herself wearing it. It seems to have made her feel special and attractive. I managed to snap a quick shot with my phone while she was pre-occupied.

It was fun to make her feel so good. This is a girl that thinks nothing of spending $200 on a T-shirt and $300 on jeans and here was this very inexpensive jewelry that costs only a little more than it's metal value and to her it was the best thing she had. If only she knew how little it costs. When she got around to scanning the QR code she was shocked and wanted them for all her friends. All I had at the time was the sample, but I promised her that I would have more electroplated so that she could use them as gifts. She not only wanted to learn about Bitcoin she wanted to get involved in this project, she offered to model for them. (Maybe its an excuse for her to get hair and makeup, but OK I have very few pictures and need more so after clearing it with her mother, I said yes)

I would be happy to get any feedback on ideas or experiences with these if any of you would like to share. This is the sort of information that helps guide the development of this project.

I finally received my 1oz silver physical bitcoin from Mulligan Mint 6 weeks after payment. It has a nice weight and high luster with mirror and frosted finish areas. The QR code is easily scanned but unfortunately only accesses their homepage. I would like to buy a Liberty Coin to compare and give a review on this forum when possible.

Now that we have started shipping (pre-paid pre-orders only so far) and are about to formally launch into production mode for phase 1 of this project. It is time for some feedback from you all on our QR link.

For those of you with smart phones, please provide comments on http://ColdHardCa.shThe page is going through some rapid changes so it may disappear for short periods of time as things are being updated.

Again, many thanks to Preev, and Mike, and Edgar, and Reichart who have all been lynch-pins on the wheels that are making this phase a success.

The goal is to have it facilitate transactions. Currency must flow or it has no purpose...Any comment is welcome, what do you love, what do you hate? What currencies do you want added?

There needs to be a link on the QR page for those wishing to purchase additional Liberty coins.

There needs to be a link on the QR page for those wishing to purchase additional Liberty coins.

Agreed. Thank you for this. Its on our list. I will give it a +1 for your wise suggestion.

Things will become much easier as this project moves forward. Soon it may do so under its own power. We are keeping costs as low as we can to provide for some investment into these simple advances.

Here is a question for you all:What do you think about also including the ability to create an account for one click order+delivery to a saved address associated with a personal Bitcoin payment address, or to specify a particular preferred local re-seller for swift fulfillment, etc?

In the years to come, we would like to have sufficient stores of Bitcoin Specie in all localities so that we can fulfill orders, the same day, worldwide.

This project is in its infancy, we dream of having the US national network begun by 2014. We would like to have local pickup locations be as convenient as 7-11. Walk in. Hand over a piece of paper. Walk out with silver pieces. There are vast opportunities available ahead. We consider all those reading and responding to this as valuable contributors, so thank you for all comments.

I finally received my 1oz silver physical bitcoin from Mulligan Mint 6 weeks after payment. It has a nice weight and high luster with mirror and frosted finish areas. The QR code is easily scanned but unfortunately only accesses their homepage. I would like to buy a Liberty Coin to compare and give a review on this forum when possible.

D WolkBitcoin Foundation MemberKnCminer Slogan Winner

I never received mine from them. The ordering function probably wasn't working by the time I tried a month ago because I didn't see the charge on my card appear either, but I did get one from eBay so that I could examine it.

I'm eager for your input so PM me and we will sort something out to get you one.

We have received enough interest that we will be offering the gold electroplating on the fine silver as a standard offering going forward. Gold does not have the same toning quality as silver so the QR should not be expected to become increasingly readable with use as it would with the normal .999 fine silver, however for the collectible editions, hallmarked pieces and etc it may be an optional addition. We will be interested in seeing how these hold up over time, I suspect that if subjected to use, it will fade significantly as the gold is VERY thin.

In other news, with the BTC/silver price, it is looking like the 2014 1 ozt is going to be a ONE BITDIME piece after all, and the premium will be discounted unless it heads back down.

I purchased one silver and one gold plated coin from New Liberty and asked that they represent a normal retail (not first strike) sample.Unfortunately so far only the gold plated coin made it through the mail and I would encourage future buyers to always get a tracking number.

I took a few photos comparing the coin to the Mulligan Mint coin and to American Eagle Silver, Gold and Platinum 1 oz. coins.

Unlike the Mulligan Mint coin, the Liberty coin comes with an airtight case. The Liberty coin has a more interesting complex design on the obverse and reverse.Both coins have mirror (highly reflective) and satin finish areas on both sides. The Liberty coin is a slightly smaller diameter than the Mulligan Mint coin. It took me several seconds to scan the QR code on both coins. The Mulligan Mint coin links to their web storefront whereas the Liberty coin links to a site which indicates the current 1oz silver value.

I haven't seen the Mulligan Mint coin in person, only in photos. Aesthetically, I think the Mulligan Mint coin looks much less sophisticated (reminds me of a token I used to get as a kid to play video games at the mall, rather than what comes to mind when I think of a silver coin).

I haven't seen the Mulligan Mint coin in person, only in photos. Aesthetically, I think the Mulligan Mint coin looks much less sophisticated (reminds me of a token I used to get as a kid to play video games at the mall, rather than what comes to mind when I think of a silver coin).

I can show you one at the next meetup. Your keychains have more quality in my humble opinion.

From the looks of it, they reused the obverse from one of their clients who'd used it for coppers (with likely no compensation or agreement), and muled it with a reverse of their own. Its a 2D piece (designed in black and white and sent to the CNC, though they did splurge on some frosting). On the reverse of their own design, the only design elements are some text in a computer font and 1010101010 repeating. The obverse has some much more interesting design elements, and even some subtle visual humor (block chain hehehe), which I like.The obverse was clearly designed by someone in the bitcoin community, and the reverse, clearly not, and from this I deduced it to be a mule.

I was flattered that they are stealing my QR feature, even if they point it to an advert for their sales effort instead of something of use to the owner of the piece. It is understandable I suppose, they have a lot more problems than I do. The perversity of this is that those pieces may become sought after by collectors as they are bound to be scarce.

After listening to the feedback here and discussing with the team, we have decided to release the GOLD ELECTROPLATED 2013 SILVER BITCOIN SPECIE as the FIRST YEAR OF ISSUE piece, the perfect holiday gift for someone you love (yes it is OK to love yourself). This is the first of the openly available, limited edition, collectible Bitcoin Specie pieces.

These will be hand numbered 001-100 (there were actually 101 made so there is one out there without a hallmark because I sold the prototype, so one lucky person has a one-of-a-kind).Of these, before I even made it to a computer to post this, already 27 have been "spoken for" (some in our team joined late and didn't get a FIRST STRIKE) so the remaining pieces will be offered to everyone here at the direct pricing of 2x the standard price + shipping. They will come in an airtite clear case accompanied with a signed and numbered certificate of authenticity for FIRST YEAR OF ISSUE.

There are 73 left, so if you know any collectors (or are one) and want to get a head start on your holiday shopping, you might want some of these. They are now in hand and available for immediate release. First come, first serve, no limit while available.

Available#s remaining:3234-4951-6870-7577-8789-98

We are increasingly considering each of the contributors to this forum a part of our team, and we are grateful for the incisive criticisms as well as the generous encouragement.

If you are in Europe, you are in luck.BitGild.com, the premier European gold and silver dealer for Bitcoin, located in the Netherlands, who have been doing very well by getting the Bitcoin Specie into the hands and pockets of the people of Europe have managed to move swiftly and scooped up some of the low numbers of the FIRST YEAR OF ISSUE collectibles.

If you move fast, you may be able to get one, but you should certainly get your Silver Bitcoin Specie there as you will certainly save on the shipping from the US and get them much quicker.

I took some pictures comparing the silver and gold plated Liberty coins with the Mulligan Mint silver coin and the Casascius silver bitcoin comparing them to a 1oz American Gold Eagle (for scale).

The Casascius silver bitcoin is a heart stopper but has a mark up (over market value) of over $100.The silver Liberty Coin is my next favorite. Although the gold plated coin is more brilliant than the picture would suggest it has a slightly duller appearance than the silver coin.However, keep in mind that the gold plating may delay appearance of patina (tarnish) if that is important to you.The Mulligan Mint coin is a nice novelty but has a less aesthetic design. All QR codes were easy to scan if you eliminate glare but the Liberty link is a page showing the current coin market value. The Mulligan Mint link is just their storefront page. Also it took Mulligan Mint 6 weeks to ship their coin.

Keep in mind that this is somewhat of an apples and oranges comparison. Casascius coins are designed to be a store of value or a collectors item.The Liberty Bitcoin Specie is meant to be a unit of exchange.

I took some pictures comparing the silver and gold plated Liberty coins with the Mulligan Mint silver coin and the Casascius silver bitcoin comparing them to a 1oz American Gold Eagle (for scale).

The Casascius silver bitcoin is a heart stopper but has a mark up (over market value) of over $100.The silver Liberty Coin is my next favorite. Although the gold plated coin is more brilliant than the picture would suggest it has a slightly duller appearance than the silver coin.However, keep in mind that the gold plating may delay appearance of patina (tarnish) if that is important to you.The Mulligan Mint coin is a nice novelty but has a less aesthetic design. All QR codes were easy to scan if you eliminate glare but the Liberty link is a page showing the current coin market value. The Mulligan Mint link is just their storefront page.

Keep in mind that this is somewhat of an apples and oranges comparison. Casascius coins are designed to be a store of value or a collectors item.The Liberty Bitcoin Specie is meant to be a unit of exchange.

Thank you for these. I am noticing some subtleties as well, the rougher edge on the back of the BTC on the Casascius piece suggest that Mike is likely using a mold strike rather than a high pressure fine CNC die strike.

I am not yet happy with the results I am getting with my own pieces either. I see a lot of improvements I need to make, especially in the metal production process to obtain a smoother surface where mirroring is used on the piece. I'm a tough critic though, as I stick them under a microscope and can get pretty picky. There is a lot that can be deduced from a careful analysis of a coin, but what really has me curious is how they will work after being handled daily for a few years. I carry one in my pocket daily to achieve that result, if anyone else is doing so, I would be happy to hear of your experiences.

Also DWDOC is the holder of (as depicted) the one-of-a-kind unnumbered electroplated first year of issue piece. Along with that unique piece, one sample was made of the Satoshi Nakamoto 5th year commemorative, electroplated in gold, but I've retained that myself and don't expect to part with it. (Though I've been known to sell pretty much anything for bitcoin.)

All of the other electroplated 2013 are in the FIRST YEAR OF ISSUE numbered collectors series, and come with numbered and signed certificates of authenticity. For those who contributed to the project, they may also have a personal note written on the back of the certificate.

I certainly appreciate receiving the first gold plated coin (not to mention you replacing the lost silver coin) but am hoping these will soon become widely available to your retail customers (early 2014?) which would obviously facilitate their implementation as a unit of exchange vs. their current "collectors item" status.

I certainly appreciate receiving the first gold plated coin (not to mention you replacing the lost silver coin) but am hoping these will soon become widely available to your retail customers (early 2014?) which would obviously facilitate their implementation as a unit of exchange vs. their current "collectors item" status.

Yes, some progress on that circulation vs collector front this week...In addition to the EU availability via online retail (currently limited to 20 ea), at Bitgoud.nl (or bitgild.com for English), we also (as of today) can announce the soon to be availability of US online retail through none other than AGORA COMMODITIES

We are less than a month in to the formal release of these so I am happy with this modest progress. We still need our first Asian distribution channel and welcome suggestions for that.

Although I love collectors, the real place for these is not in the safe or on the mantle, but in the pocket. Having these two excellent companies handle the retailing is a wonderful development and I encourage everyone to use them. They can provide a much better retail experience than I can. If you are looking for a couple hundred (or a couple thousand) pieces, please continue to feel welcome to contact me privately.

Both Agora and Bitgild take bitcoin payment and uphold the finest of ethical standards and I am honored and delighted to work with them. Both of these companies also maintain a thread here in this forum:

As predicted, another premium discount is in the countdown.Started EOD Nov 2, so if bitcoin pricing stays strong relative to silver we get another slight decrease in your prices (the part that is the premium, you get more silver per bitcoin automatically based on coldhardca.sh).Large wholesale orders (>500 pieces) can take advantage of either free shipping or early discount.

There they are, Bitcoin specie in an article that has nothing to do with specie. I LOVE IT.I also like that there are BitPappa's Keychains there. No Mansion, Bentley, or Mazzaratti key should be without one of those.

Or even if you have a Yugo, the valet will treat your car nicely if you put that in his hand.

Early warning.We are due for a premium discount on Saturday, but we may drop the prices earlier.Mathematically it looks like we will be above the trigger point on the 30DMA even if the bitcoin price drops drastically.So look for it sooner than that. Possibly even today (depending on where you happen to be standing on the planet).

Agora Commodities is now also offering direct sales of the silver Bitcoin specie!Buy from them if you can, their USD direct prices are lower than mine are unless you are buying in bulk, AND they are much better at the retail transaction.I'd encourage anyone in the US to buy direct from Agora:

If you are in Europe, you are in luck.BitGild.com, the premier European gold and silver dealer for Bitcoin, located in the Netherlands, who have been doing very well by getting the Bitcoin Specie into the hands and pockets of the people of Europe have managed to move swiftly and scooped up some of the low numbers of the FIRST YEAR OF ISSUE collectibles.

If you move fast, you may be able to get one, but you should certainly get your Silver Bitcoin Specie there as you will certainly save on the shipping from the US and get them much quicker.

Wow, that is fantastic, I feel like a little kid. The first thing I've ever bought with Bitcoin (off my phone!) are some of your specie. Woohoo!! Gonna be Xmas presents f